Guidance season officially kicked off last week with several producers announcing 2021 budgets, as well as a stated focus next year on free cash flow generation.
November 10, 2020, 11:13 AM MST
Kelt Exploration Ltd. has approved a capital expenditure budget of $90 million for 2021.
November 10, 2020, 7:25 AM MST
Enerplus Corporation has increased its 2020 annual production guidance following a successful North Dakota well program, which is outperforming expectations.
November 9, 2020, 6 AM MST
Seven Generations Energy Ltd. has set a 2021 capital budget of $650 million capital budget, unchanged from this year.
November 9, 2020, 11:40 AM MST
ARC Resources Ltd. has approved a capital budget for 2021 that will range from $375 million to $425 million and focus on maximizing the generation of surplus funds from operations.
November 6, 2020, 5:41 AM MST
Paramount Resources Ltd. expects to finalize its 2021 capital budget and related guidance in the first quarter of 2021. Based on preliminary planning and current market conditions, the company anticipates 2021 capital spending, excluding land acquisitions and abandonment and reclamation activities, to range between $225 million and $275 million.
November 6, 2020, 7:19 AM MST
Despite the effects of COVID-19-related market disruption and mandatory production curtailments Canadian Natural Resources Limited achieved quarterly production volumes of 1.111 million boe/d in Q3, up from 1.176 boe/d a year earlier.
November 5, 2020, 10:46 AM MST
Spartan Delta Corp.’s capital expenditures are budgeted to be $40 – $43 million in 2021 and are expected to be fully funded by cash provided by operating activities.
November 5, 2020, 6:29 AM MST
Tourmaline Oil Corp.’s 2020 EP capital program has been increased to $835 million from $800 million.
November 4, 2020, 4:17 PM MST
Pine Cliff Energy Ltd. expects its capital expenditure program for 2020 will total $7.6 million, lower than guidance of $10.2 million, with the drilling of one (1.0 net) Pekisko oil well in Central Alberta being deferred at this time.
November 4, 2020, 12 AM MST
Baytex Energy Corp. has resumed drilling activity in the fourth quarter after two quarters of little to no capital spending in Canada.
November 3, 2020, 11:23 AM MST
Obsidian Energy Ltd. says it benefited from the success of its development program earlier in the year and its lower cost structure in the third quarter of 2020 which more than offset the impact of lower commodity prices, year-over-year.
November 3, 2020, 8:38 AM MST
Whitecap Resources Inc. has increased its 2020 average production guidance to 67,500 to 68,000 boe/d from 65,000 to 67,000 boe/d thanks to the strong performance of its base production and associated decline rate in the third quarter.
October 30, 2020, 10:51 AM MDT
Advantage Oil & Gas Ltd.’s 2021 net capital expenditures will target approximately 75 per cent of adjusted funds flow (AFF) and is expected to be 10–15 per cent below forecast 2020 spending of $134.5 million.
October 30, 2020, 9:26 AM MDT
Yangarra Resources Ltd. says it has reduced drilling and completions costs by 20–25 per cent as compared to pre COVID-19 wells as a result of the addition of a construction division, revised well designs, water handling improvements and a variety of other structural cost saving initiatives.
October 30, 2020, 9:42 AM MDT
October 30, 2020, 8:03 AM MDT
Suncor Energy Inc. says it made further progress in reducing operating costs across the company in the third quarter and remains on track to achieve the previously announced $1 billion operating cost reduction target by the end of 2020.
October 29, 2020, 1:17 PM MDT
After a few years of being in divestiture mode to shore up its balance sheet, Crescent Point Energy Corp. has “certainly been paying attention” to the recent spate of M&A activity on both sides of the border, says the company’s chief executive.
October 29, 2020, 7:57 PM MDT
Advantage Oil & Gas Ltd.’s spending for 2020 is now projected to be between $147 million and $162 million, an increase of roughly $17 million, primarily to accelerate a four-well pad into Q4 2020 and augment natural gas production through the winter season.
October 8, 2020, 3:59 PM MDT
Petrus Resources Ltd.’s board of directors approved a fourth quarter 2020 capital budget of $4.7 million, which includes the drilling of one (1.0 net) well.
October 2, 2020, 6 AM MDT
Pipestone Energy Corp. kicked off drilling operations on the 3-12 pad in early September 2020.
September 18, 2020, 8:27 AM MDT
Paramount Resources Ltd. is accelerating activities at Karr and Wapiti and increasing its 2020 capital guidance to $225 million from $165 million.
September 15, 2020, 12 AM MDT
Suncor Energy Inc.’s full-year corporate production guidance has been revised to 680,000–710,000 boe/d, down from 740,000–780,000 boe/d set in July.
September 8, 2020, 12 AM MDT
Crescent Point Energy Corp. has reactivated previously shut-in volumes, and for 2021 it expects to spend $500 to $550 million in development capital.
September 1, 2020, 6:48 AM MDT
In the Tupper Montney, natural gas production averaged 237 mmcf/d for the quarter, reported Murphy Oil Corporation. No activity occurred in the second quarter, and none is planned for the remainder of 2020.
August 10, 2020, 9:28 AM MDT